Kiwi. I reckon that those 65 million shares went to
individuals
What are you basing that on Gassed. A wild guess. So the local Latin American roughneck washes the oil off his hands goes over to his Ipod and starts selling shares on the ASX???
"You conspiracy guys are hilarious: ROFL.
The Company will be issuing 65,000,000 shares to Latin American Resources
nominees as part of
Citation’s long term key personnel incentive.
http://www.companymatters.com.au/pu...Performance-Shares_Briefing-Note-May-2014.pdf
Performance Milestones – Appropriate & Equitable The following elements will need to be satisfied for ASX to consider a performance milestone appropriate and equitable.
• There must be an appropriate link between the performance milestone and the purpose for which the performance share is to be issued;
• The performance milestone must be clearly articulated by reference to objective criteria so that the market can understand and have reasonable certainty regarding the circumstances in which the milestone will be considered to have been met;
• The number of ordinary shares into which the performance shares will convert if the milestone is achieved must be fixed or calculated by reference to a formula that delivers a fixed outcome so that the market can understand and have reasonable certainty regarding the effect on the entity’s capital structure if the milestone is achieved;
• The performance shares must have an expiry date by which the milestone is to be achieved and if the milestone is not achieved by the date, the performance shares must be cancelled or bought back for nil or nominal consideration only, or otherwise the total number of performance shares must convert into a nominal amount of ordinary shares.
Can anyone point me to were clear guide lines have been set up to award these "incentive shares"
Thanks
(20min delay)